The new tool was designed to help financial institutions investigate smart contract transactions in DeFi protocols and NFT trading. It will allow users to trace the movements of “all funds an address has transacted with,” including those that move from blockchain to blockchain. The tool, which is now in a limited beta, will eventually become part of the Chainalysis Investigations Suite.
Announcing Chainalysis Storyline, the company said that “nearly half” of all crypto transactions involve at least one DeFi entity, an NFT, or a related type of smart contract. DeFi is also the space with the most cryptocurrency thefts, according to a report Chainalysis released on crypto crime in 2021.
The company has just raised $170 million in Series F financing round, which brought its valuation to over $8.6 billion. In a statement announcing the completion of Series F, Chainalysis vowed to use the funds to “invest in product innovation and scale its global operations.”
The new tool comes as Chainalysis is hosting Links, its annual conference on blockchain security and crypto regulation.